Customer ReviewsforButler Mortgage Inc.

The first and only requirement for me was that I pay the same amount every month. Before them I always had fixed mortgage, but W. Butler convinced me that even if I get variable I still will pay the same amount, no matter if the prime will go up or down. If that happens, he said, then it will be changed within your payments - you will pay less or more of your interest, but monthly payments will stay the same. And what a surprise it was, after I signed with the mortgage company for variable rates, when I received a letter that my payments will increase because the prime increased. And they will increase every time accordingly to the prime rate increase. When I called Butler he was denying the fact that he said such a thing and promised to read all our conversation which he recorded. Guess what? He never called after that and didn't answer my emails -so much for an honest service. I am very angry, because at the time of my application I still could get a decent fixed rate if I would not be desinformed.

Regrettably this Review is completely false, all the Mortgage Professionals in Canada are faced with these unfortunate situations today, clients regret their choice of Variable Rate Mortgages and decide to take out their anger at their situation and at the Bank of Canada and post these type of Reviews The Opening Paragraph of the Mortgage Document she signed specifically stated "Payments will rise or reduce based on Bank Prime Rate" she initialed that precise page The lawyer repeated the same information when she signed the final mortgage documents At NO TIME was anyone in our company told: "I want a mortgage where the payment will not change", that is completely fictitious While we are sorry that the Bank of Canada has raised Prime Rate so much so fast but the word VARIABLE appears in 20 point font on the top of the page If this client had said she wanted a fixed rate we would have happily provided it What the client wanted was "the lowest possible rate"

*************************************************************** **************************** They provide misleading and false information in order to secure customers with what they believe to be the best rates. They laugh at customers when they are caught in their ********* practice. Ron B. has no customer service skills and laughs while taking money from unsuspecting mislead customers. They do not take responsibility for their actions and call customers names. *******************************. They fool customers into taking variable rate mortgages by PROMISING the bank of Canada has frozen rates for 2 years than can only increase those rates thereafter by .25 basis points. This information i find out a year later as my mortgage skyrockets is incorrect. The bank of Canada did not freeze rates for 2 years and have increased each time by .50 bases points twice in a year. I was promised by Cody a MAX rate of 1.89 percent at the end of my 5 year term but i will far surpass that by the end of year one. When asked to provide copies of the recorded phone calls for verification they tell you no and insult you instead. Guilty practice. As a former bank owner use a real bank who can actually advise you without malice.

Butler Mortgage Inc Response:
The accusations made in this compliant are simply false; the "reviewer" signed documents with our company and a separate set with his own lawyer and under his lawyer's review, that clearly stated the mortgage rate was "Variable" and would increase or decrease with a change in Bank of Canada Prime. It is incredibly clear in these documents there was no guarantee of any kind as to the duration of Prime Rate changes nor the amount of Prime Rate Changes

We have reviewed all correspondence with the above reviewer and NONE of the statements made suggest our team member made, occur anywhere.

As to the suggestion that the reviewer was mislead about the direction and speed of Prime Rate Changes, we are happy to provide Video of 2 different Bank of Canada Governors in 2020 and 2021 stating plainly "Rates will be low for long"

We gave the same advice and recommendations that thousands of bank employees and Mortgage Brokers gave and that hundreds of thousands of Canadians heard and acted on.
Thank you